AvePoint Announces Fourth Quarter and Full Year 2021 Financial Results and $150 Million Share Repurchase Program
March 17 2022 - 4:05PM
AvePoint (NASDAQ: AVPT), the most advanced SaaS and data management
solutions provider, today announced financial results for the
fourth quarter and full year ended December 31, 2021.
“AvePoint’s fourth quarter performance was a
solid finish to our first year as a public company, which was
highlighted by 64% SaaS revenue growth and 34% ARR growth, with an
additional 36% growth in customers with ARR above 100k,” said Dr.
Tianyi Jiang (TJ), CEO and Co-Founder, AvePoint. “As enterprises
continue their long-term shift to SaaS based platforms, and we see
increased application usage in 2022 and beyond, we believe we are
well positioned to capitalize on this massive opportunity, which
will require the industry leading data management and collaboration
security solutions that AvePoint offers. I’m incredibly thankful to
our team for their continued focus on expanding our unique product
offerings, enhancing our channel business, and delivering
exceptional service to our existing multi-cloud customers."
Fourth Quarter 2021 Financial
Highlights
-
Revenue: Total revenue for the fourth quarter of
2021 was $53.8 million, up 17% from the fourth quarter of 2020.
Within total revenue, SaaS revenue was $24.3 million, up 52% from
the fourth quarter of 2020, and term license and support revenue
was $13.7 million, a decline of 13% due to an adjustment in the
timing of revenue recognition on term license contracts, which
resulted in the deferral of an additional $4.4 million of revenue
into future periods. Excluding the effects of this adjustment,
total revenue growth would have been 26% and term license and
support growth would have been 15%.
- Gross
Profit: Gross profit for the fourth quarter of 2021 was
$38.9 million, compared to $35.5 million for the fourth quarter of
2020. Gross margin for the fourth quarter of 2021 was 72.2%,
compared to 77.0% for the fourth quarter of 2020. Non-GAAP gross
profit for the fourth quarter of 2021 was $39.6 million, compared
to $35.8 million for the fourth quarter of 2020. Non-GAAP gross
margin was 73.5% for the fourth quarter of 2021, compared to 77.6%
for the fourth quarter of 2020.
-
Operating Income/(Loss): Operating loss for the
fourth quarter of 2021 was $(7.7) million, compared to $(10.8)
million for the fourth quarter of 2020. Non-GAAP operating income
for the fourth quarter of 2021 was $1.4 million, compared to $6.7
million for the fourth quarter of 2020.
Full Year 2021 Financial
Highlights
-
Revenue: Total revenue for the full year 2021 was
$191.9 million, up 27% from 2020. Within total revenue, SaaS
revenue was $85.6 million, up 64% from 2020, and term license and
support revenue was $51.0 million, up 31% from 2020. Adjusting for
the change in the timing of revenue recognition of $4.4 million,
total revenue would have been up 30% and term license and support
revenue would have increased 42% from 2020.
- Gross
Profit: Gross profit for the full year of 2021 was $139.2
million, compared to $111.2 million for 2020. Gross margin for the
full year 2021 was 72.6%, compared to 73.4% for 2020. Non-GAAP
gross profit for the full year 2021 was $142.7 million, compared to
$111.8 million for 2020. Non-GAAP gross margin was 74.4% for the
full year 2021, compared to 73.8% for 2020.
-
Operating Income/(Loss): Operating loss for the
full year 2021 was $(53.5) million, compared to $(15.4) million for
2020. Non-GAAP operating income for the full year 2021 was $6.0
million, compared to $18.3 million for 2020.
- Free
cash flow of $3.1 million for the full year 2021 and $271
million of cash and short-term investments as of the end of the
year.
Fourth Quarter Key
Highlights
- Grew total ARR 34% year-over-year
to $159.2 million.
- Increased dollar-based net retention rate to 110%, up 3
percentage points year-over-year.
- Eclipsed 2,800 total channel partners in 2021, of which,
roughly three quarters are managed service providers (MSPs).
AvePoint’s channel presence has further expanded to include over
100 cloud marketplaces and distributors across 7 continents.
- Expanded cloud user base to 9.4 million, up 34% from 7.0
million as of December 31, 2020.
- Recognized as a Leader in The
Forrester New Wave: SaaS Application Data Protection, Q4 2021
Report. According to the report, AvePoint offers strong
capabilities in Microsoft 365, Google Workspace and Salesforce
backup capabilities, and was the only vendor to receive a
differentiated rating in all three criteria.
Share Repurchase Program
AvePoint’s Board of Directors has authorized a
new share repurchase program for AvePoint to buy back its
outstanding common shares. Under the share repurchase program,
AvePoint has the authority to buy up to a maximum of $150 million
worth of shares, over the next three years, via acquisitions in the
open market or privately negotiated transactions. AvePoint is not
obligated to make any purchases and the program may be suspended or
discontinued at any time.
Financial Outlook
AvePoint is providing guidance for its first
quarter and full year 2022 as follows:
- First
Quarter 2022 Guidance: Total revenue is expected to be in
the range of $48.0 million to $49.0 million or approximately 25%
year-over-year growth. Non-GAAP operating loss is expected to be in
the range of $(6.0) to $(6.5) million.
- Full
Year 2022 Guidance: Total revenue is expected to be in the
range of $236.0 million to $242.0 million or approximately 25%
year-over-year growth. Non-GAAP operating income/loss is expected
to be in the range of a loss of $(3.5) million to income of $1.0
million. ARR is expected to be in the range of $212 million to $216
million or approximately 34% year-over-year growth.
Quarterly Conference Call
AvePoint will host a conference call today,
March 17, 2022, to review its fourth quarter and full year 2021
financial results and to discuss its financial outlook. The call is
scheduled to begin at 4:30pm ET. Investors are invited to join the
webcast by visiting https://ir.avepoint.com/events. The webcast
will be available live, and a replay will be available following
the completion of the live broadcast for approximately 90 days.
About AvePoint
Collaborate with confidence. AvePoint provides the most advanced
platform for SaaS and data management to optimize SaaS operations
and secure collaboration. More than 9 million cloud users rely
on our solutions. Our SaaS solutions are also available to managed
service providers via more than 100 cloud marketplaces, so they can
better support and manage their small and mid-sized business
customers. Founded in 2001, AvePoint is a five-time Global
Microsoft Partner of the Year and headquartered in Jersey City, New
Jersey. For more information, visit www.avepoint.com.
Non-GAAP Financial Measures
To supplement AvePoint’s consolidated financial statements
presented in accordance with GAAP, the company uses non-GAAP
measures of certain components of financial performance. These
non-GAAP measures include non-GAAP gross profit, non-GAAP gross
margin, non-GAAP operating expenses (including percentage of
revenue figures), non-GAAP operating income and non-GAAP operating
margin. In order for AvePoint’s investors to be better able to
compare its current results with those of previous periods, the
company has included a reconciliation of GAAP to non-GAAP financial
measures at the end of this press release. These reconciliations
adjust the related GAAP financial measures to exclude stock-based
compensation expense. AvePoint believes the presentation of its
non-GAAP financial measures enhances the user’s overall
understanding of its historical financial performance. The
presentation of AvePoint’s non-GAAP financial measures is not meant
to be considered in isolation or as a substitute for its financial
results prepared in accordance with GAAP, and AvePoint’s non-GAAP
measures may be different from non-GAAP measures used by other
companies.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the “safe harbor” provisions of the United
States Private Securities Litigation Reform Act of 1995 and other
federal securities laws including statements regarding the future
performance of and market opportunities for AvePoint. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: changes in the competitive and regulated industries in
which AvePoint operates, variations in operating performance across
competitors, changes in laws and regulations affecting AvePoint's
business and changes in AvePoint’s ability to implement business
plans, forecasts, and ability to identify and realize additional
opportunities, and the risk of downturns in the market and the
technology industry. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
"Risk Factors" section of AvePoint 's most recent Quarterly Report
on Form 10-Q and its registration statement on Form S-1 and related
prospectus and prospectus supplements filed with the SEC. Copies of
these and other documents filed by AvePoint from time to time are
available on the SEC's website, www.sec.gov. These filings identify
and address other important risks and uncertainties that could
cause actual events and results to differ materially from those
contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and AvePoint does not assume any obligation and does not intend to
update or revise these forward-looking statements after the date of
this release, whether as a result of new information, future
events, or otherwise, except as required by law. AvePoint does not
give any assurance that it will achieve its expectations.
Investor Contact:ICR for AvePoint, Inc.Marc P.
Griffinir@avepoint.com 646-277-1290
Media Contact:AvePoint, Inc.Nicole
Cacipr@avepoint.com 201-201-8143
|
AvePoint, Inc. and SubsidiariesCondensed Consolidated Statements of
Operations(In thousands, except per share amounts)(Unaudited) |
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
|
For the Year Ended |
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SaaS |
|
$ |
24,325 |
|
|
$ |
16,040 |
|
|
$ |
85,580 |
|
|
$ |
52,074 |
|
Term license and support |
|
|
13,678 |
|
|
|
15,677 |
|
|
|
50,970 |
|
|
|
38,949 |
|
Services |
|
|
10,558 |
|
|
|
7,967 |
|
|
|
31,919 |
|
|
|
34,140 |
|
Maintenance |
|
|
4,862 |
|
|
|
5,625 |
|
|
|
21,022 |
|
|
|
23,462 |
|
Perpetual license |
|
|
415 |
|
|
|
813 |
|
|
|
2,418 |
|
|
|
2,908 |
|
Total revenue |
|
|
53,838 |
|
|
|
46,122 |
|
|
|
191,909 |
|
|
|
151,533 |
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SaaS |
|
|
5,169 |
|
|
|
3,194 |
|
|
|
19,039 |
|
|
|
11,050 |
|
Term license and support |
|
|
236 |
|
|
|
673 |
|
|
|
950 |
|
|
|
1,930 |
|
Services |
|
|
9,198 |
|
|
|
6,484 |
|
|
|
30,726 |
|
|
|
26,089 |
|
Maintenance |
|
|
341 |
|
|
|
243 |
|
|
|
1,949 |
|
|
|
1,221 |
|
Total cost of revenue |
|
|
14,944 |
|
|
|
10,594 |
|
|
|
52,664 |
|
|
|
40,290 |
|
Gross profit |
|
|
38,894 |
|
|
|
35,528 |
|
|
|
139,245 |
|
|
|
111,243 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
27,024 |
|
|
|
26,664 |
|
|
|
100,512 |
|
|
|
76,545 |
|
General and administrative |
|
|
15,035 |
|
|
|
15,954 |
|
|
|
59,221 |
|
|
|
36,872 |
|
Research and development |
|
|
4,132 |
|
|
|
3,444 |
|
|
|
31,765 |
|
|
|
12,204 |
|
Depreciation and amortization |
|
|
375 |
|
|
|
259 |
|
|
|
1,238 |
|
|
|
1,059 |
|
Total operating expenses |
|
|
46,566 |
|
|
|
46,321 |
|
|
|
192,736 |
|
|
|
126,680 |
|
Loss from operations |
|
|
(7,672 |
) |
|
|
(10,793 |
) |
|
|
(53,491 |
) |
|
|
(15,437 |
) |
Gain on earn-out and warrant
liabilities |
|
|
7,583 |
|
|
|
— |
|
|
|
21,233 |
|
|
|
— |
|
Interest income, net |
|
|
22 |
|
|
|
15 |
|
|
|
102 |
|
|
|
41 |
|
Other expense, net |
|
|
(332 |
) |
|
|
(187 |
) |
|
|
(632 |
) |
|
|
(511 |
) |
Loss before income taxes |
|
|
(399 |
) |
|
|
(10,965 |
) |
|
|
(32,788 |
) |
|
|
(15,907 |
) |
Income tax expense |
|
|
7,090 |
|
|
|
1,134 |
|
|
|
457 |
|
|
|
1,062 |
|
Net loss |
|
$ |
(7,489 |
) |
|
$ |
(12,099 |
) |
|
$ |
(33,245 |
) |
|
$ |
(16,969 |
) |
Net loss attributable to and
accretion of redeemable noncontrolling interest |
|
|
(561 |
) |
|
|
(27 |
) |
|
|
(1,974 |
) |
|
|
(27 |
) |
Net loss attributable to
AvePoint, Inc. |
|
$ |
(8,050 |
) |
|
$ |
(12,126 |
) |
|
$ |
(35,219 |
) |
|
$ |
(16,996 |
) |
Deemed dividends on preferred
stock |
|
|
— |
|
|
|
(13,033 |
) |
|
|
(32,928 |
) |
|
|
(34,446 |
) |
Net loss available to common
shareholders |
|
$ |
(8,050 |
) |
|
$ |
(25,159 |
) |
|
$ |
(68,147 |
) |
|
$ |
(51,442 |
) |
Loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
(0.04 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.48 |
) |
|
$ |
(0.57 |
) |
Diluted |
|
$ |
(0.04 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.48 |
) |
|
$ |
(0.57 |
) |
Shares used in computing loss
per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
182,133 |
|
|
|
98,107 |
|
|
|
141,596 |
|
|
|
89,638 |
|
Diluted |
|
|
182,133 |
|
|
|
98,107 |
|
|
|
141,596 |
|
|
|
89,638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AvePoint, Inc. and SubsidiariesCondensed Consolidated Balance
Sheets(In thousands, except par value)(Unaudited) |
|
|
|
|
|
|
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
268,217 |
|
|
$ |
69,112 |
|
Short-term investments |
|
|
2,411 |
|
|
|
992 |
|
Accounts receivable, net of allowance of $838 and $1,767 at
December 31, 2021 and December 31, 2020, respectively |
|
|
59,223 |
|
|
|
48,250 |
|
Prepaid expenses and other current assets |
|
|
6,573 |
|
|
|
2,343 |
|
Total current assets |
|
|
336,424 |
|
|
|
120,697 |
|
Property and equipment,
net |
|
|
3,922 |
|
|
|
2,663 |
|
Deferred contract costs |
|
|
38,926 |
|
|
|
31,943 |
|
Long-term unbilled
receivables |
|
|
8,049 |
|
|
|
5,499 |
|
Other assets |
|
|
7,354 |
|
|
|
8,252 |
|
Total assets |
|
$ |
394,675 |
|
|
$ |
169,054 |
|
Liabilities, mezzanine
equity, and stockholders’ deficiency |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
1,824 |
|
|
$ |
774 |
|
Accrued expenses and other liabilities |
|
|
35,062 |
|
|
|
26,245 |
|
Current portion of deferred revenue |
|
|
79,714 |
|
|
|
65,203 |
|
Total current liabilities |
|
|
116,600 |
|
|
|
92,222 |
|
Long-term portion of deferred
revenue |
|
|
8,555 |
|
|
|
9,485 |
|
Share-based awards classified
as liabilities |
|
|
— |
|
|
|
43,502 |
|
Earn-out shares
liabilities |
|
|
10,012 |
|
|
|
— |
|
Other non-current
liabilities |
|
|
3,943 |
|
|
|
3,658 |
|
Total liabilities |
|
|
139,110 |
|
|
|
148,867 |
|
Commitments and contingencies
(Note 11) |
|
|
|
|
|
|
|
|
Mezzanine equity |
|
|
|
|
|
|
|
|
Redeemable convertible preferred stock, $0.0001 par value; 94,695
shares authorized, 42,001 shares issued and outstanding with
aggregate liquidation preference of $403,361 at December 31,
2020 |
|
|
— |
|
|
|
183,390 |
|
Redemption value of common shares |
|
|
— |
|
|
|
25,074 |
|
Share-based awards classified as mezzanine equity |
|
|
— |
|
|
|
1,489 |
|
Redeemable noncontrolling interest |
|
|
5,210 |
|
|
|
3,061 |
|
Total mezzanine equity |
|
|
5,210 |
|
|
|
213,014 |
|
Stockholders’ deficiency |
|
|
|
|
|
|
|
|
Common stock, $0.0001 par value; 1,000,000 and 243,360 shares
authorized, 181,822 and 100,068 shares issued and outstanding, at
December 31, 2021 and December 31, 2020, respectively |
|
|
18 |
|
|
|
12 |
|
Additional paid-in capital |
|
|
625,056 |
|
|
|
105,159 |
|
Treasury stock |
|
|
(1,739 |
) |
|
|
— |
|
Accumulated other comprehensive income |
|
|
2,317 |
|
|
|
1,791 |
|
Accumulated deficit |
|
|
(375,297 |
) |
|
|
(299,789 |
) |
Total stockholders’ equity
(deficiency) |
|
|
250,355 |
|
|
|
(192,827 |
) |
Total liabilities, mezzanine
equity, and stockholders’ equity (deficiency) |
|
$ |
394,675 |
|
|
$ |
169,054 |
|
|
|
|
|
|
|
|
|
|
AvePoint, Inc. and SubsidiariesCondensed Consolidated Statements of
Cash Flows(In thousands)(Unaudited) |
|
|
|
|
|
|
For the Year Ended |
|
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
Operating activities |
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(33,245 |
) |
|
$ |
(16,969 |
) |
Adjustments to reconcile net
loss to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
1,238 |
|
|
|
1,059 |
|
Foreign currency remeasurement loss (gain) |
|
|
1,308 |
|
|
|
(378 |
) |
Provision for doubtful accounts |
|
|
(740 |
) |
|
|
690 |
|
Stock-based compensation |
|
|
59,508 |
|
|
|
33,767 |
|
Loss (gain) on disposal of property and equipment |
|
|
(15 |
) |
|
|
80 |
|
Deferred income taxes |
|
|
(1,694 |
) |
|
|
(433 |
) |
Change in value of earn-out and warrant liabilities |
|
|
(21,233 |
) |
|
|
— |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts receivable and long-term unbilled receivables |
|
|
(14,949 |
) |
|
|
(8,946 |
) |
Prepaid expenses and other current assets |
|
|
(4,026 |
) |
|
|
1,204 |
|
Deferred contract costs and other assets |
|
|
(7,606 |
) |
|
|
(3,236 |
) |
Accounts payable, accrued expenses and other
liabilities |
|
|
10,257 |
|
|
|
971 |
|
Deferred revenue |
|
|
16,742 |
|
|
|
11,311 |
|
Net cash provided by operating
activities |
|
|
5,545 |
|
|
|
19,120 |
|
Investing
activities |
|
|
|
|
|
|
|
|
Maturity (purchase) of
short-term investments |
|
|
(1,431 |
) |
|
|
2,391 |
|
Purchase of property and
equipment |
|
|
(2,461 |
) |
|
|
(1,023 |
) |
Net cash provided by (used in)
investing activities |
|
|
(3,892 |
) |
|
|
1,368 |
|
Financing
activities |
|
|
|
|
|
|
|
|
Proceeds from recapitalization
of Apex shares |
|
|
491,563 |
|
|
|
— |
|
Payments of transaction
fees |
|
|
(49,990 |
) |
|
|
— |
|
Redemption of redeemable
convertible preferred stock |
|
|
(130,925 |
) |
|
|
(33,712 |
) |
Redemption of Legacy AvePoint
common stock |
|
|
(106,169 |
) |
|
|
— |
|
Payments of transaction fees
by Legacy AvePoint |
|
|
(2,998 |
) |
|
|
(2,089 |
) |
Purchase of treasury
stock |
|
|
(1,628 |
) |
|
|
— |
|
Payment of net cash settlement
for management options |
|
|
(7,530 |
) |
|
|
— |
|
Proceeds from stock option
exercises |
|
|
5,566 |
|
|
|
612 |
|
Proceeds from sale of common
shares of subsidiary |
|
|
753 |
|
|
|
7,505 |
|
Repayments of capital
leases |
|
|
(25 |
) |
|
|
(49 |
) |
Payments of debt issuance
costs |
|
|
— |
|
|
|
(300 |
) |
Proceeds from issuance of
Common stock, net of issuance costs |
|
|
— |
|
|
|
58,669 |
|
Collection of promissory
note |
|
|
— |
|
|
|
284 |
|
Collection of non-recourse
promissory note |
|
|
— |
|
|
|
4,639 |
|
Net cash provided by financing
activities |
|
|
198,617 |
|
|
|
35,559 |
|
Effect of exchange rates on
cash |
|
|
(1,165 |
) |
|
|
903 |
|
Net increase in cash and cash
equivalents |
|
|
199,105 |
|
|
|
56,950 |
|
Cash and cash equivalents at
beginning of period |
|
|
69,112 |
|
|
|
12,162 |
|
Cash and cash equivalents at
end of period |
|
$ |
268,217 |
|
|
$ |
69,112 |
|
Supplemental
disclosures of cash flow information |
|
|
|
|
|
|
|
|
Cash received (paid) for: |
|
|
|
|
|
|
|
|
Interest |
|
$ |
102 |
|
|
$ |
— |
|
Income taxes |
|
$ |
(3,430 |
) |
|
$ |
1,068 |
|
Non-cash investing and
financing activities |
|
|
|
|
|
|
|
|
Issuance of common shares in exchange for issuance cost |
|
$ |
— |
|
|
$ |
2,408 |
|
Property and equipment acquired under capital leases |
|
$ |
— |
|
|
$ |
29 |
|
|
|
|
|
|
|
|
|
|
AvePoint, Inc. and SubsidiariesNon-GAAP Reconciliations(In
thousands)(Unaudited) |
|
|
|
|
|
|
|
|
|
For the Three Months Ended |
|
|
For the Year Ended |
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
Non-GAAP operating income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating income |
|
$ |
(7,672 |
) |
|
$ |
(10,793 |
) |
|
$ |
(53,491 |
) |
|
$ |
(15,437 |
) |
Stock-based compensation
expense |
|
|
9,033 |
|
|
|
17,532 |
|
|
|
59,508 |
|
|
|
33,767 |
|
Non-GAAP operating income |
|
$ |
1,361 |
|
|
$ |
6,739 |
|
|
$ |
6,017 |
|
|
$ |
18,330 |
|
Non-GAAP operating margin |
|
|
2.5 |
% |
|
|
14.6 |
% |
|
|
3.1 |
% |
|
|
12.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross profit |
|
$ |
38,894 |
|
|
$ |
35,528 |
|
|
$ |
139,245 |
|
|
$ |
111,243 |
|
Stock-based compensation
expense |
|
|
687 |
|
|
|
276 |
|
|
|
3,477 |
|
|
|
592 |
|
Non-GAAP gross profit |
|
$ |
39,581 |
|
|
$ |
35,804 |
|
|
$ |
142,722 |
|
|
$ |
111,835 |
|
Non-GAAP gross margin |
|
|
73.5 |
% |
|
|
77.6 |
% |
|
|
74.4 |
% |
|
|
73.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP sales and
marketing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP sales and marketing |
|
$ |
27,024 |
|
|
$ |
26,664 |
|
|
$ |
100,512 |
|
|
$ |
76,545 |
|
Stock-based compensation
expense |
|
|
(2,833 |
) |
|
|
(10,746 |
) |
|
|
(15,906 |
) |
|
|
(19,973 |
) |
Non-GAAP sales and
marketing |
|
$ |
24,191 |
|
|
$ |
15,918 |
|
|
$ |
84,606 |
|
|
$ |
56,572 |
|
Non-GAAP sales and marketing
as a % of revenue |
|
|
44.9 |
% |
|
|
34.5 |
% |
|
|
44.1 |
% |
|
|
37.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP general and
administrative |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP general and
administrative |
|
$ |
15,035 |
|
|
$ |
15,954 |
|
|
$ |
59,221 |
|
|
$ |
36,872 |
|
Stock-based compensation
expense |
|
|
(4,688 |
) |
|
|
(6,420 |
) |
|
|
(24,063 |
) |
|
|
(12,916 |
) |
Non-GAAP general and
administrative |
|
$ |
10,347 |
|
|
$ |
9,534 |
|
|
$ |
35,158 |
|
|
$ |
23,956 |
|
Non-GAAP general and
administrative as a % of revenue |
|
|
19.2 |
% |
|
|
20.7 |
% |
|
|
18.3 |
% |
|
|
15.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP research and
development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP research and
development |
|
$ |
4,132 |
|
|
$ |
3,444 |
|
|
$ |
31,765 |
|
|
$ |
12,204 |
|
Stock-based compensation
expense |
|
|
(825 |
) |
|
|
(90 |
) |
|
|
(16,062 |
) |
|
|
(286 |
) |
Non-GAAP research and
development |
|
$ |
3,307 |
|
|
$ |
3,354 |
|
|
$ |
15,703 |
|
|
$ |
11,918 |
|
Non-GAAP research and
development as a % of revenue |
|
|
6.1 |
% |
|
|
7.3 |
% |
|
|
8.2 |
% |
|
|
7.9 |
% |
AvePoint (NASDAQ:AVPT)
Historical Stock Chart
From Aug 2024 to Sep 2024
AvePoint (NASDAQ:AVPT)
Historical Stock Chart
From Sep 2023 to Sep 2024